Logo of Alkhaleej Training and Education Co.
Alkhaleej Training and Education Co. issued today, Oct. 11, the prospectus for its planned capital hike through SAR 200 million rights issue on the Capital Market Authority’s (CMA) website, according to a bourse statement.
Earlier this month, the Capital Market Authority (CMA) approved Alkhaleej Training’s request to raise its capital, Argaam reported.
The company scheduled an extraordinary general assembly meeting (EGM) on Nov. 3 to vote on the board of directors’ recommendation of capital increase.
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Details of Capital Increase |
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Current capital |
SAR 450 mln |
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Number of shares |
45 mln |
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Capital increase percentage |
44.4% |
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Capital after increase |
SAR 650 mln |
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Number of shares after increase |
65 mln |
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Rights Issue Details |
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Number of shares offered |
20 mln |
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Offering price |
SAR 10 per share |
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Issue size |
SAR 200 mln |
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Rights coefficient |
Each registered shareholder will be granted 0.44 right for every share owned |
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Record date |
Shareholders who own the shares by the end of trading on the date of the EGM, and of record by the close of trading on the second day following the EGM date |
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Use of rights issue proceeds |
Expansion in the education sector through the acquisition of schools |
SAR 96 mln |
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Repayment of a part of short-term facilities |
SAR 100 mln |
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Offering costs |
SAR 4 mln |
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